10/10/2025
Jammu, October 10, 2025:
After detailed consultations with representatives of various industrial associations across Jammu, Deepak Gupta, Convener of the Bharatiya Janata Party – Industrial Cell, Jammu & Kashmir, submitted a comprehensive memorandum to Leader of Opposition Shri Sunil Sharma Ji, highlighting the major challenges faced by the local industrial sector and seeking his intervention in the upcoming Assembly Session.
During the meeting, Deepak Gupta apprised the Leader of Opposition of the pressing concerns being faced by entrepreneurs and industrialists across Jammu and Kashmir, particularly in the absence of a comprehensive industrial framework to guide the sector. He stressed that J&K currently has no active Industrial Policy, as the last one lapsed without renewal. Despite the existence of central schemes such as the New Central Sector Scheme (NCSS) 2021, the Union Territory still lacks a state-level policy mechanism to address the local industrial ecosystem, attract new investments, or cater to the specific requirements of small and medium enterprises. This policy vacuum, he noted, has created confusion among investors and hindered the effective implementation of both central and UT-level initiatives. Gupta urged that the Government immediately formulate and notify a new Industrial Policy that harmonizes the Startup Policy 2024, the NCSS 2021, and the needs of existing industries to ensure clarity, stability, and confidence among entrepreneurs.
He further pointed out the serious delay in the disbursement of turnover incentives, which were promised at the rate of 3%. To date, only around 10% of the claims for the financial year 2021–22 have been released, while the subsequent years’ claims remain pending. This delay, according to Gupta, has not only undermined the morale of the industrial community but also impacted operational sustainability for several units. He called for the immediate release of all pending incentives as per the commitments made in official notifications.
Another major concern raised in the memorandum relates to land allotment in industrial estates. Gupta observed that while entrepreneurs have deposited full premium amounts for land allotments, the estates have not been developed, and possession has not been handed over. This has resulted in the blockage of significant capital belonging to local investors. He appealed that the Government expedite the process of estate development and land possession while also paying a minimum interest of 8% per annum on the collected premiums until allotment is completed.
Gupta also emphasized the urgent need for reviving the Small Scale Industries Development Corporation (SICOP), describing it as the backbone of small-scale industrial support in J&K. He noted that SICOP has all the necessary workshops and testing laboratories that many small units lack, and that its revival would help channel regular procurement work to local units. This would also ensure that contracts and business opportunities do not continue to go to large outside players, allowing the economic benefits to remain within J&K and supporting local employment generation.
In continuation, Gupta highlighted the importance of implementing a local procurement policy that guarantees at least 60% purchase preference for J&K-based industrial units. He said this measure is essential to promote regional entrepreneurship, encourage local production, and strengthen the “Vocal for Local” initiative envisioned by the Hon’ble Prime Minister.
Raising another long-standing issue, Gupta proposed that the Government frame a policy to grant ownership rights in selected, urbanized industrial estates — especially those that were developed and maintained exclusively by SICOP. He elaborated that many industrialists had invested their life savings in industrial plots at a time when land prices outside estates were significantly lower, purely on faith in the government’s vision. Granting ownership rights, he said, would recognize their contribution and ensure that the benefits of such investment pass on to their families and future generations, thereby strengthening the confidence of investors in government policies.
The memorandum also called for the formulation of a research-based, region-specific industrial policy to promote sustainable investment in sectors where J&K holds a natural advantage — such as tourism, mineral-based industries, and food processing units. Gupta emphasized that, being a landlocked region, Jammu and Kashmir’s industrial growth depends on focusing on sectors that source both their raw materials and markets locally. He suggested that a capping mechanism on external investments be introduced to ensure that the maximum benefits of any new incentive policy accrue to genuine local entrepreneurs rather than to large external entities.
Finally, Gupta underscored the need for immediate release of pending SGST refunds for the previous financial years. He stated that withholding of refunds has caused a severe cash flow crunch among industrialists, particularly small-scale units, and that their release would provide critical liquidity support to sustain operations in the current economic environment.
Gupta remarked that these issues were identified after extensive consultations with industrial stakeholders across Jammu and reflect the collective voice of local entrepreneurs who have consistently supported government initiatives in the spirit of partnership and development. He expressed confidence that Leader of Opposition Shri Sunil Sharma Ji will take up these critical matters in the upcoming Assembly Session and subsequent sessions, ensuring that the concerns of the industrial community are effectively presented before the Government.
He reiterated that the BJP Industrial Cell remains committed to promoting entrepreneurship, job creation, and industrial self-reliance in Jammu & Kashmir, in keeping with the broader vision of the party’s leadership.
